[ET Net News Agency, 15 October 2019] HSBC Global Research lowered its target price for
Dah Sing Financial Holding (DSFH)(00440) to HK$42 from HK$75.5 and maintained its "buy"
rating.
The research house said DSFH owns 74.37% of DSBG (02356). The implied value of DSFH's
non-bank assets (DSFH minus its DSBG stake) is negative HK$1.4bn and looks mispriced. In
addition, DSFH also has a general insurance business and proprietary investment. The
faster EPS and BVPS growth in DSFH versus DSBG represents the more favourable operating
results on its insurance and investment businesses than the banking businesses.
HSBC said, on fundamentals, DSFH (ex-DSBG) has non-bank assets of HK$6.86bn. (KL)
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00440 DAH SING
Nominal 
20.050 -0.300 (-1.474%) Others
15/10/2019 15:27
{I-bank focus}HSBC trims Dah Sing Financial (00440) to HK$42
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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